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Wednesday, December 27, 2023 In-person / Live Webcast

Preparing Individual Tax Returns for New Staff and Paraprofessionals (E2312511)

8:30 AM - 4:30 PM EST

Registration: 8:30 AM EST

NJCPA Learning Center

105 Eisenhower Parkway, Suite 300
Roseland , NJ 07068

8.0 CPE Credits in TX

OVERVIEW

The objective of this course is to train new staff accountants, data processing employees, paraprofessionals, and bookkeepers to prepare a moderately complex federal individual income tax return. Over the years, thousands of new staff have received practical, hands-on experience to become familiar with tax forms. This course covers the latest tax law changes, making it essential for your new staff.

DESIGNED FOR

New staff and paraprofessionals who prepare individual returns

BENEFITS

  • Learn complicated issues of filing status and dependency exemptions
  • Learn about Schedules A, B, C, D, E, and SE; Forms 8867, 4797, and 4562; passive rules and more
  • Complete comprehensive problems related to Schedules A, C, and D; QBI, 4797, 6251, and more, all with “filled-in” forms
  • Learn about IRA contributions, self-employed retirement plans, child-care credits, and the adoption tax credit

HIGHLIGHTS

  • Comprehensive coverage of the Inflation Reduction Act of 2022 and The SECURE Act 2.0
  • Preparation of various Form 1040 individual tax returns and schedules; provided answers include “filled-in” forms
  • Coverage of Form 7203
  • Coverage of §199A qualified business income, its calculation, limitations, and examples
  • Dividends and interest – Ordinary, return of capital, and capital gain distribution dividends; tax-exempt interest, original issue discount, etc.
  • Security transactions – From Form 1099-B to Form 8949 to Schedule D, plus mutual fund sales and related basis issues
  • Self-employed person issues
  • Schedule C deductions including depreciation
  • Sale and exchange of property – Understanding Form 4797 and depreciation recapture; capital gains
  • A working understanding of passive losses – How to handle rental property and how the passive loss rules flow to the tax forms
  • Itemized deductions – A thorough understanding of what’s deductible and what’s not
  • Interest deductions – Limitations and timing problems
  • Charitable contributions substituting for taxes, IRS says – No!
  • Retirement contributions and education credits and deductions
  • Tax computations – The Kiddie Tax, AMT, regular tax, tax credits
  • Individual problems illustrated by form preparation for various items, with numerous “practice tips”
  • Impact of recent legislation and forms changes on the 1040

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for IRS credit

INSTRUCTOR

Nicole DeRosa

Nicole M. DeRosa, CPA, MAcc

Senior Tax Manager

Wiss & Company, LLP

Nicole is a senior tax manager with Wiss and has more than 15 years of public accounting experience, specializing in taxation for closely held businesses and individuals. In addition to working with clients in an array of industries, she also teaches various continuing education courses for Surgent CPE and the American Institute of CPAs (AICPA). A valuable resource for "all things tax," she regularly assists clients with federal and state tax controversy matters. Nicole is an NJCPA Trustee and serves on its Content Advisory Board and Federal Taxation Interest Group. In 2019, she was awarded its “Women to Watch” Ovation Award and in 2022, she was awarded the "Impact" Ovation Award. For the third year in a row, Nicole was named to the NJBIZ Accounting Power 50 List, which accounts for the most influential men and women in accounting who keep New Jersey's businesses on track. In Nicole’s spare time, she enjoys staying active at the gym, volunteering at her local animal shelter, and is active in various charitable organizations, such as St. Jude.

PRICING

In-Person Registration

    $289.00 - Member

    $439.00 - Nonmember

Virtual Registration

    $289.00 - Member

    $439.00 - Nonmember

Register Today


Note: Online pre-registration will close on December 27 at 8:30 AM.

Registrations will be accepted at the door.

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

COURSE DEVELOPER

Surgent